Specific performance may be ordered when theO goods are unique.O subject of the contract is real property.O amount of the loss is so uncertain that there is no fair way to calculate damages.O all of the above.

Specific performance - fulfilling a promise made under a contract as agree.Orders of specific…

Answered: Specific performance may be ordered…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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In 2010, X and B agreed that they will pretend that they will enter into a contract of sale so that X will have a lesser tax to pay. In the contract of sale, it was indicated that X will sell the car for P50Million to which B agreed. What is this kind of contract? A. Absolute simulation B. Relative simulation C. Factual simulation D. Fictional simulation
2) A fiduciary relationship is one based on trust and explicit or implicit contract that creates economic incentives for the different parties. Select an alternative True False
In relation to Consideration select the CORRECT statement:Select one:To be valid, the agreed price and the goods sold, must be of equal value.Consideration can be vague or illusory as long as it was communicated to the other partyConsideration is the exchange of something of value (a thing, a promise, money etc), given in return for something else of value (a thing, a promise, money etc)Consideration is not necessary to form a legally binding contractTo be valid, Consideration must involve payment of money, in return for something of value.
What can be classified as a grievance?Contracts will have specific steps for a grievance procedure; however, the basic frameworkincludes a verbal discussion, a written discussion, a formal meeting, and arbitration. Discuss theimportance of each step in the grievance procedure along with why steps cannot be skipped.The Bureau of National Affairs has sanctioned a test to determine whether just cause is satisfied.What are the questions that must be answered for justification?
Assume that Elkins contracted to build an addition to Cromwell’s plant producing cruise missiles just prior to the Gulf War. The war ended before Elkins started work, and Cromwell tried to cancel the contract. Can Elkins do anything about the loss of his anticipated profit (a) if the contract contained a proper cancellation clause? (b) if the contract contained no clause dealing with cancellation?
- A contract to sell, even if accepted by the buyer is not an absolute sale. B. FALSE A. TRUE - Conventional redemption is based upon the stipulation of the parties, while legal redemption is based on law. A. TRUE B. FALSE - Like option money, an earnest money is evidence of a perfected contract of sale. A. TRUE B. FALSE
Spring agreed to buy Summer's car. Because the actual purchase was not to take place for several months, they drew up a lengthy agreement that specified all of the rights and obligations of each of the parties that they could think of. They took this two-page, single spaced document to an attorney for review. The attorney suggested a few changes. They had the documented retyped and they signed it. The contract is referred to a a. An executed contract b. A formal contract c. An implied contract d. A simple contract
Under the frustration of purpose doctrine, performance is excused when: Group of answer choices 1. something that is essential to the promisor's performance is destroyed through no fault of the promisor, but its substitute is available. 2. statutes and legislation make the performance more difficult. 3. the promisor impliedly assumes the risk that the event would occur. 4. events occur after the formation of the contract that would make the return performance of the other party worthless to the promisor.
Analyze the circumstances in which a contract of service may be brokenby either party of an employment contract. Include in your answer theconsequences if either party breaks the contract. Please give 8 point with explanation in details and example. words 800
A guaranty type contract, where a 3rd party guarantees the payment for another, must be in writing. True False
Michael built a calculator (which graphs) using plans Michael found posted on the internet, but he unreasonably didn’t follow the plans when he constructed the calculator. Michael then sold the calculator to Jack who was injured when the calculator exploded because it hadn’t been built according to the plans. After the explosion Jack was taken to the Hospital emergency room (“ER”) where he signed a consent form authorizing Dr. Joe, the ER doctor, to perform a surgical procedure called Surgery X. But, instead Dr. Joe performed Surgery Y, a different procedure than Surgery X. A. What cause(s) of action should Jack use if he sues Michael for Jack’s injuries. Discuss. B. Has Joe, the ER doctor, committed any intentional torts? If so, discuss.
Sometimes an issur with a property is discovered during the pre-closing stage. Buyers may be willing to accept deficiencies if they an compensate through a price reduction. Which of the following is correct regarding adjusting a purchase price to offset a deflciency.Select one: O. The value of the price adjustment may become a matter of negotiations between the parties. O. A new agreement of purchase and sale must be drafted and signed to finalize the price adjustment. O. A formal appraisal is always required to determine the adjusted purchase price. O. Buyers are contractually obligated to negotiate an adjusted purchase price.

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Specific performance may be ordered when the O goods are unique. O subject of the contract is real property. O amount of the loss is so uncertain that there is no fair way to calculate damage O all of the above.